Job Details
Job Description:
Purpose:
Manages a team of employees who perform disbursement reviews of affordable housing projects awarded funding through the FHLBSF's Affordable Housing Program ("AHP") General Fund and Targeted Fund to determine eligibility within program guidelines and regulatory requirements. Initiates and implements policy and procedural changes as they relate to the current AHP regulations and future amendments.
Major Accountabilities:
- Manages the AHP competitive disbursement process to confirm feasibility and need for AHP funds. Includes review of development budgets, operating pro formas, limited partnership agreements, loan documentation, cost certifications, and other documentation to assess risk of releasing funds. Review project compliance with regulatory requirements and Bank guidelines.
- Perform second level reviews for disbursements, time limit reviews, initial monitorings, and other AHP events, as needed. Act as final decision maker on all disbursements, evaluating risk of potential recapture and compliance issues on disbursements ranging from $100,000 to $2 million.
- Manages the employment, promotion, employee performance evaluation, training, motivation, counseling, and discipline of three CID team members.
- Participates in the process of developing or modifying policies and procedures to keep up with the evolution of the affordable housing industry and housing programs. Maintain the integrity of research data through careful, logical, and resourceful review and assembly of available information.
- Develops and implements risk management strategies and controls related to AHP disbursements.
- Prepares materials for presentation to management committees such as the Community Support Program Committee and Affordable Housing Advisory Council and presents materials, as needed.
- Conduct project site visits and other tasks as requested by management, as necessary.
- Score, evaluate, determine eligibility, financial feasibility and need for subsidy of applications submitted in the annual application rounds. Recommend applications for approval, as needed.
- Approve submitted affordable housing projects for funding.
- Technical Assistance and Outreach
- Represent FHLBSF at industry conferences, AHP project groundbreakings and grand openings, and other events as determined by coordination with the Marketing and Legislative Affairs department. Act as point person for Marketing and Legislative Affairs on AHP communications and requests for information.
- Manage and provide technical assistance and outreach to members and community partners, including individual project guidance and supervising application webinar trainings and post-round assistance.
- Assist in the production of various Community Investment publications such as the Affordable Housing Advisory Council's annual report, and the Bank's newsletter on community investment, as needed.
- Provide support to Director of AHP, Managing Director, as needed.
- Assist the Bank in achieving its mission-related goals, including research into potential community investment programs, scoring criteria, program design, and other Implementation Plan changes for the General and Targeted Funds. Assist in work related to fulfilling the Bank's Targeted Community Lending Plan initiatives.
- Provide key support during Federal Housing Finance Administration (FHFA) examinations by responding to FHFA questions and other assigned tasks.
- Provide technical expertise on affordable housing issues to Bank management, members, and key stakeholders as required.
- Participate in the establishment of department goals and implementing procedures and performance standards to achieve these goals.
Skills/Knowledge:
- Bachelor's Degree in Business Administration, Finance or a related field, or equivalent education or work experience required.
- Minimum 5-7 years' experience in community investment, lending, affordable housing finance, affordable housing asset management, or loan processing within a financial institution or affordable housing nonprofit preferred, including two years in supervisory or lead role experience.
- Minimum two years' experience managing direct reports.
- Demonstrated knowledge of affordable housing development from initiation to completion. Knowledge of housing regulations, public and private financing sources, the Low-income Housing Tax Credit Program, rental subsidy, and other public grant programs. Must be able understand a project holistically including being familiar with loan documentation, able to analyze sources of financing, operating and development budgets, and statements of cash flow. Must understand the basics of retention and recapture mechanisms (subordination arrangements, silent second notes, and lien positions).
- Demonstrated ability to effectively train and mentor direct reports, providing support and guidance in learning the complexities of affordable housing development, as well as professional growth.
- Demonstrated ability to effectively communicate with all levels of an organization including external clients, internal management, and team members.
- Attention to detail and ability to efficiently, and thoughtfully, review and organize documentation.
- Ability to work independently with minimal supervision.
- Ability to operate PC-based software (Excel, Outlook, Word) and learn custom database systems.
- Excellent verbal and written communication skills with strong analytical and problem-solving skills.
- Ability to analyze, apply, interpret, and communicate policies, procedures and regulations effectively.
SALARY RANGE: $145K - $155K
The Federal Home Loan Bank of San Francisco is an Equal Employment Opportunity employer and is committed to a diverse workforce. We value and actively seek to recruit, develop, and retain individuals with varied backgrounds and experiences reflecting the full diversity of the communities that we serve. It is the policy of the Bank to comply with all applicable laws concerning the employment of persons with disabilities.
Salary ranges reflect the base salary that the Bank reasonably expects to pay for a given role and is not inclusive of annual incentive award opportunities, retirement benefits or the value of other health and welfare or other ancillary benefits. We consider many factors when determining base salaries such as individual background and experience, the competitive environment, education, particular skill set(s), and industry and institutional knowledge.
The Bank is committed to offering all team members challenging and engaging work with market competitive pay, retirement, and benefit offerings. In support of this commitment, the Bank routinely engages in market competitive benchmarking surveys and analysis to ensure our team members continue to be paid fairly and competitively.